Trump and the Trump administration have increasingly turned their fire on Powell and his leadership of the central bank.

Treasury Secretary Scott Bessent told the president that ousting Jerome Powell entailed risks, including possible effects on the economy and potential legal and political obstacles.

When he was sworn in, Trump promised a new “Golden Age.” It’s clear that, six months into his presidency, the public isn’t buying all the hype.

Without independence, the Fed couldn’t be trusted to give priority to low inflation over the president’s other priorities.

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